Your DGB for today is get loud about the importance of protecting the CFPB from being gutted by the current administration.
If you thought your Monday was bad, give a thought to the poor staff at the Consumer Fraud Protection Bureau. After the bureau’s head, Richard Cordray, stepped down on Friday, worker bees and middle management began this week with dueling emails from two different people purporting to be the boss: Leandra English, named as acting director by the outgoing director; and Mick Mulvaney, who was installed by POTUS (and already has a demanding job as head of OMB). Although the Dodd-Frank Act clearly gives Cordray the power to name English acting director, Mulvaney showed up with donut bribes, took over the director’s office, and demanded the staff ignore all directives from English. Awkward!
But this is more than just awkward. This bureau is supposed to protect consumers from things like subprime mortgages, predatory payday lending, deliberately confusing credit card agreements, and so on. It is a central piece of Obama-era Wall Street reforms and it is intended to operate outside political pressures from Congress or the White House. But Republicans, the same ones who claim to want to “drain the swamp,” have been dying to undercut this agency. Mulvaney himself has been on record saying the CFPB is a “sick, sad joke.” It is clear Mulvaney and HIS boss want him at the helm so they can basically stall the whole project.
We need you to raise your voices and tell Congress, the WH, and anyone who will listen that this hostile takeover of an agency that protects the little guy is completely unacceptable. We MUST defend the agency that defends us. Use Resistbot to let Congress hear you, and use #DefendCFPB on social media to raise awareness.